Hi everyone. I'm a physician and have earned 100k in w2 income this year, but will be doing contractor work from now on. I expect to earn another 225k in 1099 income this year, and 350k in 1099 income next year. I live in NY (outside nyc) but will be working in NYC. Is there any benefit for me to se...

Hi everyone. I did a backdoor roth conversion earlier this year at vangurad($5500) (income over contribution limit). I contributed to tIRA and converted to roth. I am changing jobs, and have about 6k in a 457 plan. Can I roll these funds over to a tIRA at vanguard and convert to roth? I understands ...

Hey everyone. Wife just changed jobs, trying to decide on 403b options. We are in our 30s, attempting to be about 30-40% in bonds. We recently started saving for retirement, so our portfolio is under 100k. The 403b has low ER vanguard index funds, so that takes care of that. I looked over the bond c...

hey everyone. So once again, its tax time and I am lost with this form. For 2012 i contributed 5k towards non deductible IRA (Jan 2013). For 2013, I contributed 5500. I then converted to roth IRA in 2013. The total converted was 10478 ( I lost $22). I do not have any other IRAs. So here is how I hav...

Hi everyone. I own vanguard TSM, Total internation, and small cap. Several times a year these funds kick off dividends that I do not re-invest. They end up in my checking account. How do I handle these in terms of taxes? How do I report this income, and are they taxed at regular income rate? thanks!

Hello. I'm a little confused about this topic. I hold vanguard target retirement 2045 in Roth IRA account. It kicks off a dividend once a year. However, total bond market gives off dividend every month and total stock market quarterly. Since the retirement fund consists of these, how can it have a d...

Hi everyone. Lets say I bought 10k of tax exempt muni bond fund 3 monhts ago. Today the value of that fund is $9500. I have received $100 in dividends over 3 months. If I sell the fund today, can I tax loss harvest the $500?thanks!

Thanks for all the responses. I recently bought these funds, and i don't see much upside to them. They might earn 3-4% per year, but if interest rates change, I stand to loose more than that. Just seems like a bad bet. I think I'll buy some shorter duration funds, or just put the rest into total sto...

He really didn't marry her for money, mostly because she doesn't have any. They were childhood friends and both lost their spouses. They were both lonely and didn't want to spend the rest of their lives alone. He English is poor and that prevents him from finding better work. I know that situation i...

Her expenses are fairly low. She and her husband can live on 3k/month. However, the co-op has a maintenance fee of $500/month that will slowly grow with time. As far as ss, I really dont know. She has made about 50k/yr for 20 yrs, so whatever that adds up to. No, she does not want to move because th...

Hi everyone. So I just looked into my mothers retirement assets, and its not pretty. She is 59 years old, plans to retire in 3 years. She just got re-married, my dad passed away many years ago. He is 60 years old. She lives in NYC. Income: 50k/year. She has been working at same job for 20 years. Hus...

Hello. I was considering starting a 529 plan for my daughter who is almost 5. Is the NY state plan the best option? I am in the 33% fed tax bracket, 6.8 NY tax bracket. Also, would I get the state tax deduction if i start the plan on vanguard compared to the NYS website? Another question. Lets say i...

thanks for the responses. It appears with management fees, I would be paying something like 2% on funds that are very similar to total stock market on vanguard. They are mostly index funds which are not actively managed (like T rowe price growth). I dont want to move the funds to a roth. I would be ...

Hi everyone. So here is my situation. Im over the limit for ROTH IRA so I have used the backdoor route for 2012 and 2013 with vanguard using after tax dollars. I have filed from 8606. I plan to use the backdoor route yearly. I have also started contributing to group 401k which has crappy fund choice...

Hi everyone. I hold vanguards Intermediate-Term Tax-Exempt Fund Investor Shares. I live in NY. From what I understand, the dividends are federal tax free, but I will still have to pay state income tax on them. Will that be at my regular state income tax rate? Also, if i sell the bond fund some years...

The way I see it, since my Roth IRA will grow tax free, I should put in whatever combination is likely to have the largest return over 30 years. As I get closer to retirement, I should use more bonds to decrease risk. So is Vanguard retirement 2045 a suitable choice? Or should I use total bond marke...

Hello everyone. Im new to investing, mostly because I am just starting my career after being in school for a long time Im in my 30s. I have a very stable 6 figure job and have no debt. I live in NY and am in the 33% tax bracket. Here is what I have ROTH IRA $10,500 Vanguard Target Retirement 2045 Fu...

Hi everyone. So i was a SUNY employee, so you are forced to put away at least 3% of your paycheck in TIAA-CREF retirement account. I left suny, and now have 8k sitting there in a money market account not earning anything. From what i understand, this is a 401a plan. I put in 2k and employer put in 6...

I do plan to make the 2013 contribution of 5500 this month. So after all that, do I still just fill out line 1-3 and 14bon 8606?As an aside, my gf just started a Roth IRA and added 5k after doing her taxes. Does she need to fill out any tax form?Thanks again!

Hello. This is the first year that I contributed to IRA, but i did it after my 2012 tax return has been completed. So I will fill out form 8606. I contributed 5000 without taking any deduction and converted the traditional IRA to backdoor roth IRA. I did this in 2013. Im not sure how to answer quest...

I read it, thank you. So I did my taxes for 2012 and did not take any deduction for contributing to an IRA. So now I open an account and place 5k in it, then convert to roth IRA immediatly. In terms of taxes, will i owe anything? Then when i contribute to $5500 for 2013, i will need to go same route...

Hello. After listening to some great advice from the people of this forum, I decided to open a backdoor roth IRA with vanguard. I am over the limit, so cant open a roth IRA. I have a few questions. First, on the actual procedure. So I sign up for a traditional IRA account. Which index do I choose? A...

Hello. I currently file as single and have no dependents. I have a good 6 figure job. I have ample savings. My paycheck is garnished by about 40% each month. Is there any way to alter my W4 legally and have minimum wages deducted? I would not mind paying at the end of the year and put that money int...

I actually dont live in NYC, so I dont pay NYC taxes, just NY state taxes. So NY Long Term Tax Exempt vs Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares ??? Also, is there any period that I absolutely must hold this account for? For example, I decide to do something else in 6 months, am I...

Hi everyone. First time poster. Thank you in advance to everyone who replies. Here is my situation. Im 35 years old. I have been in school for a while, and finally got my first job this past Sept. I make 300k/year. i live in NY File as single 33% federal tax bracket. My job is very stable, and I can...